Star Holdings Reports First Quarter 2026 Results

Star Holdings (NASDAQ:STHO) filed its Form 10-Q for the quarter ended March 31, 2026, reporting net loss attributable to common shareholders of $10.3 million and loss per share of $0.85.

Rhea-AI Summary

Star Holdings (NASDAQ:STHO) filed its Form 10-Q for the quarter ended March 31, 2026, reporting net loss attributable to common shareholders of $10.3 million and loss per share of $0.85. Results include a $2.2 million non-cash mark-to-market adjustment related to approximately 13.5 million shares of SAFE that reduced EPS by $0.18.

During Q1 the company received loan repayments totaling $13.7 million (a $10.6 million mezzanine loan and a $3.1 million senior mortgage) and repurchased ~0.2 million common shares for $2.0 million at an average $8.45 per share. The company reiterated focus on monetizing real estate assets and maximizing cash flow.

Positive

• Net cash inflow from loan repayments of $13.7 million
• Share repurchase of $2.0 million at average $8.45 per share
• Owns ~13.5 million SAFE shares (mark-to-market disclosed)

Negative

• Net loss attributable to common shareholders of $10.3 million
• Loss per share of $0.85
• $2.2 million non-cash mark-to-market adjustment reduced EPS by $0.18

Argus May 11 session

+0.23% close to close Open Argus

Details

News Market Reaction – STHO

On May 11, the first trading day after this news, STHO closed 0.23% above the previous close.

Data tracked by StockTitan Argus for the May 11 session.

Key Figures

Total revenue: $20.9M Net loss: $14.5M EPS: $(0.85) +5 more

Total revenue

$20.9M

Quarter ended March 31, 2026 (10-Q)

Net loss

$14.5M

Quarter ended March 31, 2026 (10-Q)

EPS

$(0.85)

Quarter ended March 31, 2026 (10-Q and press release)

Unrealized loss on SAFE

$2.2M

Non-cash mark-to-market in Q1 2026

Total assets

$480.4M

Balance sheet at March 31, 2026

Safehold stock

$183.0M

Carrying value of SAFE stake at March 31, 2026

Cash and restricted cash

$62.1M

Quarter-end balance at March 31, 2026

Total debt

$207.0M

Debt outstanding at March 31, 2026

Previous Earnings Reports

5 past events · Latest: Feb 17

Same Type 5 events

1. Feb 17

   Q4/FY25 earnings

   24h Move

   +1.2%

   Large FY25 net loss driven by non-cash SAFE mark-to-market charge.

2. Nov 07

   Q3 2025 earnings

   24h Move

   +2.9%

   Quarterly net income, SAFE mark-to-market drag, and active asset monetization.

3. Aug 07

   Q2 2025 earnings

   24h Move

   -1.3%

   Large net loss from non-cash SAFE adjustment despite strong land sales.

4. May 12

   Q1 2025 earnings

   24h Move

   -2.0%

   Quarterly net loss with SAFE mark-to-market and moderate land revenues.

5. Feb 18

   Q4/FY24 earnings

   24h Move

   -0.9%

   Very large SAFE-driven non-cash losses overshadowing profitable asset sales.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

form 10-q, mark-to-market, mezzanine loan, senior mortgage

4 terms

form 10-q regulatory

"filed its Quarterly Report on Form 10-Q for the quarter ended"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

mark-to-market financial

"based on a mark-to-market at quarter end."

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

mezzanine loan financial

"including on a $10.6 million mezzanine loan at the Surfhouse"

A mezzanine loan is a type of financing that sits between a primary bank loan and equity ownership: it has a lower priority for repayment than the main loan but ranks above shareholders. Think of it as a bridge loan that fills the gap when a company needs extra cash for a buyout, expansion, or project, often carrying higher interest and sometimes a small equity stake. For investors, mezzanine debt offers higher returns but more risk than senior loans and can affect shareholder value if converted into ownership.

senior mortgage financial

"and on a $3.1 million senior mortgage on a New York asset."

A senior mortgage is a loan secured by real estate that has first claim on the property’s value if the borrower fails to repay, meaning it gets paid before any other debts tied to the same property. Investors care because this priority makes senior mortgages relatively safer and more likely to recover money in a default, providing steadier income with lower interest returns compared with lower‑priority, riskier loans—think of it as being first in line at repayment time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, May 8, 2026 /PRNewswire/ -- Star Holdings (NASDAQ: STHO) announced today that it has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 with the Securities and Exchange Commission. 

Net income (loss) attributable to common shareholders for the first quarter was ($10.3 million) and earnings (loss) per share was ($0.85). These results reflect a non-cash adjustment of ($2.2) million which decreased earnings per share by $0.18 with respect to our investment in approximately 13.5 million shares of SAFE based on a mark-to-market at quarter end.

During the first quarter, the Company received two loan repayments, including on a $10.6 million mezzanine loan at the Surfhouse multifamily development in Asbury Park and on a $3.1 million senior mortgage on a New York asset. Additionally, the Company repurchased approximately 0.2 million shares of its outstanding common stock for $2.0 million at an average share price of $8.45.

Further details regarding the Company's results of operations, assets and activities are available in the Company's Form 10-Q for the quarter ended March 31, 2026 which is available for download at the Company's website www.starholdingsco.com or at the Securities and Exchange Commission website www.sec.gov.

*          *          *

Star Holdings' (NASDAQ: STHO) portfolio is comprised primarily of interests in the Asbury Park Waterfront, the Magnolia Green residential development projects and other commercial real estate properties and loans that are for sale or otherwise plan to be monetized. Star Holdings also owns shares of Safehold Inc. (NYSE: SAFE). Star Holdings expects to focus on realizing value for shareholders from its portfolio primarily by maximizing cash flows through active asset management and asset sales. Additional information on Star Holdings is available on its website at www.starholdingsco.com.

Company Contact:
Pearse Hoffmann
Senior Vice President
Head of Corporate Finance
T 212.930.9400
E investors@starholdingsco.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/star-holdings-reports-first-quarter-2026-results-302767308.html

SOURCE Star Holdings

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Star Holdings (STHO) report for net income in Q1 2026?

Star Holdings reported a net loss attributable to common shareholders of $10.3 million. According to the company, this result includes a $2.2 million non-cash mark-to-market adjustment tied to its SAFE shareholding.

How much did Star Holdings (STHO) repurchase in shares during Q1 2026?

The company repurchased approximately 0.2 million shares for $2.0 million at an average price of $8.45. According to the company, the repurchase reduced outstanding shares and used available cash resources.

What loan repayments did Star Holdings (STHO) receive in Q1 2026?

Star Holdings received loan repayments totaling $13.7 million, including a $10.6 million mezzanine loan and a $3.1 million senior mortgage. According to the company, these repayments improved near-term liquidity.

How did the SAFE investment affect Star Holdings (STHO) Q1 2026 EPS?

A $2.2 million mark-to-market adjustment on SAFE decreased EPS by $0.18 in Q1 2026. According to the company, the adjustment is non-cash and reflects quarter-end valuation.

Where can investors find Star Holdings (STHO) Q1 2026 financial details?

Investors can download the Form 10-Q for the quarter ended March 31, 2026 from Star Holdings' website or the SEC website. According to the company, the filing contains full operational and balance-sheet details.